Category: Business

The percentage of private sector employees in a workplace pension scheme increased from 26% in 2011 to 35% in 2013, according to research commissioned by the Department for Work and Pensions. The Employers Pension Provision survey shows that at the time of the research, 2% of private sector businesses had passed their staging dates. These … Continued

The unemployment rate fell by 77,000 to 2.24 million between December 2013 and February 2014, according to figures from the Office for National Statistics (ONS). The official unemployment rate now stands at 6.9%, the lowest since February 2009. Key employment data: 30.39 million people were in work between December 2013 and February 2014 This is … Continued

Thousands of businesses have been mis-sold interest rate protection products (Swaps, Caps & Collars) on top of debt facilities by Banks. These products which were hugely profitable for Banks were sold to businesses on the presumption that interest rates would rise and these hedging products would provide protection. All the major High Street Banks have … Continued

An alternative source of finance, Funding Circle provides business loans from £5k to £1 million for working capital, expansion, property, asset purchase and one-off business expenses. 10% of eligible loans funded by the Government-backed British Business Bank and interest rates start at 6%. For more information see https://www.fundingcircle.com/businesses For further information about alternative sources of … Continued

The national minimum wage (NMW) for adults will rise by 19p an hour to £6.50 on 1 October 2014, the Business Secretary Vince Cable has announced. The Government has agreed to follow the three per cent rise proposed by the Low Pay Commission last month. This will be the first time in six years that … Continued

Small and micro businesses need the same level of protection as consumers when buying utilities, according to the Federation of Small Businesses (FSB). The FSB argues that many small businesses are disadvantaged when choosing energy or water providers as they lack the resources and negotiating power of larger firms. The FSB is asking the Government … Continued

This government programme helps small businesses get expert advice on: finance and cash flow recruiting and developing staff improving leadership and management skills marketing, attracting and keeping customers making the most of digital technology Some businesses will be randomly chosen to get a voucher for up to £2,000 to help finance specialist business support. You’ll have to … Continued

It has been confirmed that the implementation of the LLP/partnership tax changes will take effect from 6 April 2014 and will counter two main areas: The disguising of employment status in relation to salaried members of LLPs; and Tax-motivated profit/loss allocations between partners to secure a tax advantage. If an individual is caught by the … Continued

An immediate tangible benefit is the extension to the temporary £250,000 Annual Investment Allowance (AIA) which was die to expire at the end of this year. The increased allowance has been extended to 31 December 2015, and, has also been increased to £500,000, from 1 April 2014. This will benefit retailer planning shop refurbishments or … Continued

Companies that are Small and Medium sized Enterprises (SMEs) carrying out qualifying Research and Development can currently claim a corporation tax deduction of 225% of their qualifying spend. This means that £100,000 spend would result in a £225,000 reduction in taxable profits, potentially saving £45,000 corporation tax (at 20%). However, if the company is loss … Continued